Economy

Crude oil prices rose on Tuesday despite double worries from new restrictions resulting from surging coronavirus cases which could threaten a recovery in fuel demand and producers preparing to increase output from August. Brent crude futures gained 15 cents or 0.35 percent to $42.87 per barrel, while the US West Texas Intermediate (WTI) crude futures […]

The Central Bank of Nigeria (CBN) and the Bankers’ Committee have ordered all banks in the country not to retrench or lay-off any staff of any cadre (either full-time or part-time). The apex bank also said that its approval must be sought if it becomes absolutely necessary to lay-off any such staff. This was disclosed […]

A report published by the National Bureau of Statistics on Tuesday revealed that food inflation increased marginally Year on Year to 14.90% in January 2020, compared to the figures obtained (14.85%) in January 2019. Core Inflation also rose to 9.43% in January 2020 compared to the 9.35% figures in January 2020. Earlier in January data […]

The Nigerian Stock Exchange (NSE) has announced that it has been appointed as an Executive Committee (EC) member of the Financial and Information Services Association (FISD), a division of the Software and Information Industry Association (SIIA). The appointment which is for a two-year term, beginning January 2020, will have Olufemi Balogun, Head, Market Services Department […]

The Central Bank of Nigeria has reduced the withdrawal fee charged for the use of other banks’ Automated Teller Machines from N65 to N35. The N35 ATM fee according to the CBN should be imposed on customers after the third withdrawal within one month. The new directive is part of the major highlights of the new […]

The end of year is always a good time to take stock and to prepare oneself for a new year. Personal finances need periodic attention. With only two weeks left of 2019, do find some time to get some clarity around your personal finances. Of course, with the spending frenzy, all the parties and activities, […]

The Lagos State Government has secured a 629 million dollars financing facility is to accelerate the completion of the Lekki Deep Seaport project, which started in 2011. The loan was secured from the Chinese bank after China Harbour Engineering Company (CHEC), which owns majority shares in the project, signed a 45-year concessionary agreement with Lekki […]

The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, has said there is no going back on the federal government’s determination to increase public revenue through intensified tax collection. Speaking during the Lagos Chamber of Commerce (LCCI) 2019 Presidential Policy Dialogue on the Economy, held in Lagos at the weekend, Adebayo, said those expecting […]

The Central Bank of Nigeria has announced the commencement of charges on deposits in addition to already existing charges on withdrawals. In a circular titled: “Re: Implementation of the Cashless Policy,” that was addressed to all banks, it announced that the charges, which take effect from today, would attract three per cent processing fees for […]


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